Used car prices set to soar

Thursday 16 July 2020

Via Moodys:

Wholesale used-vehicle prices rose to all-time highs across Australia in June. Following a record-breaking monthly increase in May, June doubled down on the historic gains. Used vehicle prices were up 11% from May to June and a mind-boggling 23% from the lows reached in April, according to the Datium Insights–Moody’s Analytics Price Index (see Chart 1 below).

Key points from the attached report are as follows –

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.